The Latest: Australia says he’s inspired by US tax cuts

President Donald Trump and Australian Prime Minister Malcolm Turnbull shake hands in the Oval Office at the White House in Washington, Friday, Feb. 23, 2018. (AP Photo/Andrew Harnik)

WASHINGTON (AP) — The Latest on President Donald Trump’s meetings with the Australian prime minister (all times local):

2:30 p.m.

Australian Prime Minister Malcolm Turnbull says his country is inspired by President Donald Trump’s tax cuts.

Turnbull is telling Trump at a White House news conference on Friday that Trump’s economic reforms are one of the most powerful arguments his government is using to persuade Australian lawmakers to reduce the business tax rate there.

Echoing Trump, Turnbull says that most of the benefits go to workers when corporate taxes are cut.

Turnbull says cutting corporate taxes leads to more investment and that more investment leads to more jobs.

Trump signed a $1.5 trillion tax cut into law in December, cutting taxes for corporations and the wealthy and providing more modest breaks for individuals.

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2:20 p.m.

President Donald Trump says a U.S. combat ship will be named in honor of an Australian cruiser that was lost fighting alongside the U.S. Navy in World War II.

Trump says the ship will be named the USS Canberra, after Australia’s capital.

Trump made the announcement Friday as he opened a White House news conference with Australian Prime Minister Malcolm Turnbull after a day of meetings.

Trump says Australia’s defense minister will sponsor the USS Canberra. Trump says the ship will be a worthy successor to both her Australian namesake and her American predecessor.

He says the ship will symbolize the enduring friendship between the two countries, adding that “there is no closer friendship.”

Turnbull says the meetings were a great opportunity to deepen Australia’s engagement with its most strategic and economic partner.

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1:15 p.m.

President Donald Trump says “a lot of good things” will come from Friday’s meetings with Australian Prime Minister Malcolm Turnbull.

Asked if he would visit down under, Trump says he would and called Australia a “great place.”

Trump says they are working on trade deals, the military, security and other issues.

Turnbull noted that this year marks “100 years of mateship” between the U.S. and Australia. The prime minister predicted 100 more years of friendship to come.

The leaders spoke in the Oval Office during a portion of the meeting that was open to U.S. and Australian journalists.

Trump and Turnbull are scheduled to answer questions at a joint news conference following their talks and working lunch.

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12:45 p.m.

Australian Prime Minister Malcolm Turnbull has arrived at the White House for meetings with President Donald Trump.

Trump and first lady Melania Trump greeted Turnbull Friday at the south entrance of the White House.

The leaders shook hands before going inside for meetings, a working lunch and a joint news conference.

Relations between Trump and Turnbull got off to a tumultuous start shortly after Trump took office. They sparred during a contentious telephone call over a plan for the U.S. to accept refugees that had been agreed to by former President Barack Obama.

Joe Hockey is Australia’s ambassador to the U.S. Hockey says the two men “understand each other” now and enjoy each other’s company.